PHOENIX—CBRE announces the sale of Kierland Fairways Office Plaza located at 14614 N. Kierland Blvd. in North Scottsdale. The 55,268-square-foot office building was sold for $8.2 million. A sizable renovation is planned for the property.

Luke Walker, Dave Carder and Eric Schultz of CBRE's Phoenix office negotiated the sale. The seller was Abart Properties of Scottsdale. The buyer was an affiliate of Montana Avenue Capital of Santa Monica, CA. Abart will continue to oversee day-to-day management of the property. Walker and Carder will continue to oversee marketing and leasing for the property.

MAC is planning an extensive renovation of the building's entryway and common areas, as well as the demolition of the existing interior offices in the top floor of the south wing.